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Reply to "Where would you park money from sale of parents' home to pay nursing home"
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[quote=Anonymous]Hopefully the subject should be self-explanatory. But I'm coming up on the sale of my parent's (my childhood) home, sad sad. After all is said and done with taxes and fees, I'm expecting to see about $400,000, which will need to be parked to make those $8,000 a month payments to the nursing home. We have a Morgan Stanley account ourselves, but I'm loath to pay 1.4% to them, and would try to negotiate it down to 1% for rather passive investing. But I do mildly like the diversity they'd recommend to us and could set it up on autopilot to make the payments, since it would require sale of securities, or setting aside enough to make a few month's worth of payments. Any thoughts from those who've been in this situation? TIA[/quote]
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